Financing
looking to buy a toy hauler fifthwheel and the truck I currently have will not pull it! Wondering if I would be better off buying a truck that will work and then the trailer? The trailer then the truc...
Forum Discussion
Jayco-noslide wrote:
Financial institutions and lenders are part of a culture that has for many years been successful in convincing us that borrowing money is not only OK but actually a good thing. Acceptable car loans have been stretched from 3 years to who knows how long, etc, etc. We've been tricked into thinking that borrowing at low rates is good and actually makes us money. Wrong. Nothing beats being debt free, paying cash and putting monthly payment amounts away to spend for our next cash purchase. Save borrowing for a home or starting a business.
I've been on both sides of the fence and couldn't agree with you more. My ex-wife made pretty good money, but thought that as long as you could make the minimum payments on multiple credit cards, you were in good shape. It was a miserable existance.
When I met my current wife, she was making little but knew how to manage money. She had her own house and believed that if you can't afford it, don't buy it. We now have the things we want and have no debt with the exception of our mortgage (almost paid off) and one car payment (also almost paid off).
It's amazing how much more you can afford when you aren't paying interest on everything.
